The Arab markets drop sharply by the pressure of the war between Israel and Iran

The most important Arab markets were witnessed from the beginning of a turbulent week, influenced by the escalation of geopolitical tensions in the region after the outbreak of the war between Israel and Iran last Friday, which clearly reflected on the indicators of stock exchanges that began today’s dealings with sharp declines. In Saudi Arabia, the main market index, “Tassi”, reduced its losses to 1%, after it opened its trade to a strong decline of 3.8%, to decline below the 10500 points level, which was affected by the decline in leadership shares in the banking sector, especially al -Rajhi Bank and the Saudi National Bank, while the sale The sale of the sale of the Saudi National Bank. In turn, the Kuwait Market Index fell by more than 4.9% at the beginning of the session, but it reduced its losses to 3.9% at the closure. In Egypt, the most important index of the Egyptian Stock Exchange EGX30 reduced its 7% losses at the beginning of the session to 4.6% at the closure, for the level of 31016 points, which was influenced by the sale wave that livestock regional markets with the escalation of geopolitical risks. Israel and Iran continued to bombard each other’s countries for the third day in a row, in a military escalation that is not being seen soon, amid the growing fear of expanding the conflict. Israel said on Sunday that it had pushed a new wave of missiles launched by Iran to an interception of a previous group and simultaneous attacks on Tehran. Since midnight, the strikes have killed four people and wounded 207 others, according to the emergency services in Israel. This escalation came after reports of explosions that shook several areas in Iran, including a site of a natural yil station associated with the large “pars” field. The Dubai and Abu Dhabi markets were the first Arabic exchanges to interact with the war, while performing on Friday, and both markets ended in the first days of the war on a fall that was no more than 2% for each. Ahmed Al -Rasheed, the first financial analyst in the newspaper “Al -iqtisadiah”, said that the basic engines of the Saudi stock market index are currently focusing on internal factors, while external influences largely limited to the trading of foreign investors. He explained in an interview with “Al -Sharq” that the market sees active trades worth 5 billion Riyals, citing the durability of liquidity and the vitality of trade. He pointed out that the energy sector was the most important factor in supporting the performance of the market during the contemporary session, thanks to the strong profits achieved by ‘Aramco’ shares to the rise of oil prices. Al -Rasheed emphasized that the general conditions of the market are stable, and there are no fundamental influences that will disrupt the work of the businesses listed in the Saudi market.